Finding the best property manager to look after your investment must be handled as a serious business transaction. If you employ a property manager based on fees alone, it will almost always end in disaster. If your property is managed badly by a ‘cheap’ agency, it could drastically impact on your bottom dollar and cost you a lot more than a couple of percent commission!! So, choose wisely. Ask yourself, what qualities in a business partner are most important to you?
When asked what qualities are most important to Calibre’s Business Development Manager Emily Williams she told us that “A good property manager has just got to be on the ball, to be honest. Proactive and NOT lazy. Honest and good at communicating. Knowledgeable about legislation and transparent with all the info. They’ve got to have their finger on the pulse and always strive to do whatever is in the best interest of their owner at all times.”
Want to know how on earth do you go about finding the best property manager who has their finger on the pulse? Well, strategy is everything. With a clear and concise plan, you’ll be teaming up with the right agency in no time.
The 7 Most Important Qualities to Find the Best Property Manager for You
If you turn up to an agency and all of the staff members won’t even be polite to you or give you a welcoming smile… RUN!!! Run for the hills and never look back. Happy staff are absolutely vital. If the staff members can’t even put on a happy face for new business, imagine how they’ll treat you after you list with them!
Using the right technology for the right job improves efficiency and productiveness. Efficient use of technology enables the staff to do their jobs well. It means they can provide great service to their clients without having to focus on the nitty gritty of jobs that can be outsourced by a robot.
3. Centralised Invoicing
Wait, what?! There are agencies out there that will actually process of all your invoices for you? That’s right, you don’t have pick up a calculator or nativigate your way through an excel spreadsheet. They’ll do it ALL for you. You better believe it! Imagine how easy processing EOFY could be. Hallelujah!!
4. Employee Training
Whichever property management agency you go with must be up to date with regular training. Having a thorough understand of protocols and procedures is an essential part of good property management.
5. Routine Inspections
Be sure to inquire how often an agency conducts their routine inspections. And how they report the results of these inspections to you.
With more support staff an agency enables its property managers to work within their strengths. It also enables them to adequately prioritise their workload.
Good agencies know their value and are able to explain why their service is worth the higher fee. We are not saying to go and sign up with the most expensive agency you can find. We’re just saying make sure you look at your value for money. Typically the cheapest agencies won’t have the resources or money to invest in good quality staff, efficient technology and regular training.
Marketing of a property is also of vital importance to a successful investment. There are four key aspects that you need to ensure are implemented. This is in order to achieve the highest possible rental return in the quickest possible turnaround time :
- Professional photography
- Professionally scripted advert
- A Premiere Listing on portals such as realestate.com.au and domain.com.au
- A great agent
These four key aspects are of vital importance to your property’s success. They will ensure your property is seen first. It will also capture the attention of a higher number of quality tenants.
For further information about property management and investing, try these articles :
- How to ensure your rental return makes you investment more fruitful
- How To Spot A Bad Property Manager And Avoid Them
- 5 Things You Need To Know About Claiming Tax Depreciation on Your Property
- Can A Landlord Refuse Pet Owners & Smokers?
- Choosing the right Landlord Insurance